Commodity Market Report
Global copper short-term outlook September 2022
Report summary
September was very much a month of two halves. The first two weeks of the month were dominated by rising prices, falling LME stocks and supply concerns. However, prices retreated in the second half of the month amid growing fears about global economic growth prospects. Prices turned sharply lower on the back of the Federal Reserve’s 75 point hike in interest rates and a subsequent sharp rally in the US dollar. We expect the price to remain under pressure from the continued flow of negative economic news and amid lacklustre spot interest as demand conditions deteriorate.
Table of contents
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Supply-demand balances
- China
- North America
- US
- Asia ex-China
- Japan, South Korea and Taiwan
- Concentrate markets
- China concentrate markets
- Blister/anode and scrap markets
- Smelter production developments
- Mine production developments
- Other mine production developments
- Mine project developments
- Corporate activity
Tables and charts
This report includes 24 images and tables including:
- LME regional exchange stocks (kt)
- Cancelled Warrants as % of LME Stocks
- LME copper prices vs trade weighted dollar index
- LME cash and 3-month prices and 3-month spread
- Price forecasts and world quarterly supply-demand balance (kt)
- US manufacturing PMI
- South Korea semis production trends
- Production and shipments of copper wire rod and copper semis - kt
- Global quarterly refined copper consumption - kt
- Concentrate market TCRCs
- Global copper-in-concentrate stock changes (kt Cu)
- 2022 Planned maintenance for Chinese smelters
- Monthly global imports of copper scrap and electronic scrap (gross weight kt)
- Blister market RC
- Monthly reported Chilean copper production
- Monthly reported Peruvian copper production
- Global mine production - breakdown by product type (kt copper in concentrate and leach output)
- Global copper refined consumption (kt)
- Global copper mine production (kt copper in concentrate and leach output)
- Global copper smelter production (kt)
- Global copper refined production (kt)
- Copper stocks
- Copper prices and premia
- Copper supply-demand balance global summary (kt)
What's included
This report contains:
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